All Forum Posts by: Katie Smith

Hi Alex! Great question! You’re absolutely right that interest rate predictions can make it tempting to wait for a better deal. Here are a few points to consider before making your decision:

1. Market Timing vs. Long-Term Goals: While predictions suggest that rates might drop in the future, there’s no guarantee on the timing or extent of these changes. Trying to perfectly time the market can be challenging and might lead to missed opportunities. If buying now aligns with your long-term financial goals and property needs, it might be worth moving forward rather than waiting.
2. Impact on Property Prices: Lower interest rates can boost demand for properties, which might drive up prices. If rates do drop, you could face higher property costs, potentially negating the benefit of the lower rate. Assessing the current market conditions and property values in your area can provide a clearer picture.
3. Current Market Dynamics: Consider other factors like inventory levels, the competitiveness of the market, and personal circumstances. If you find a property that fits your needs and the market is favorable, waiting for a potential rate drop might not be worth the risk.
4. Personal Financial Situation: Your current financial health and readiness to purchase play a crucial role. If you’re prepared financially and find a good opportunity now, it might be wise to proceed rather than waiting for uncertain future changes.

Ultimately, it’s about balancing predictions with your personal and financial goals.

Hey Lawrence! 

Getting a new roof is important for ensuring that the property meets the standards required by most loan programs. Lenders often require a home to be in good condition, and an older or partially replaced roof might not pass inspection. A new roof can prevent potential issues during the appraisal process, ensuring that the property qualifies for various loan programs, including FHA or VA loans, which often have stricter criteria. This makes the home more accessible to a wider range of buyers, increasing its marketability and potential sale price.

Hi Maria! Happy to hop on a quick call to get more details and see if i'm able to help you out with this.  

Hi Lotus! I love working with new investors! I can help you out on the financing side. Have you ever heard of hard money loans? They are loans for investment properties. If you're looking to do a fix and flip - you can get up to 90% of the purchase price and 100% of the rehab budget. If you're looking at a turnkey rental - you can get up to 80-85% towards the purchase price. 

Hi JJ! You'll find most investors are using wholesalers, off-market deals normally come from them anyway. If you don't want to cut your realtor out completely - have them list the house for you when the renovation is done! 

Hi Elda! I love working with new investors. I put another pair of eyes on the deal to make sure your return is going to be worth your time, and walk you through the entire process so you have a good understanding of everything! 

Hi Mario! I'm in Orlando! If you or your clients have any questions or needs regarding funds for investment properties i'd love to help out. Do you attend any monthly meetups or the GOREIA? 

Hey Scott. You can reach out to a local realtor to put together a BPO for you. 

Hi Deena! Katie from FL here! 

You will need to go into a bridge loan first - that can cover up to 90% of the purchase price and 100% of the rehab budget. After the renovation is complete - you can either sell the property or refinance it into a long term DSCR (debt service coverage ratio) loan. I know getting into your first fix and flip can be nerve racking, i'd be happy to go into this more in detail!

Hi Tj! Welcome to BP! This is by far the best platform to learn from other real estate investors. If you ever have any questions about a hard money loan - i'd be happy to assist!